Bitcoin, Ether trend lower, Solana bounces back after hack, BNB gets a bump

Bitcoin and Ethereum moved lower in Asia afternoon trading on Thursday, with Solana recovering from a price drop blamed on a hack of its network. Bitcoin was priced at US$22,927 as of 4:30 p.m. in Hong Kong, down 1.12% in the last 24 hours. Ethereum edged down 0.9% to US$1,621, according to data from CoinMarketCap.

See related article: Solana blames Slope for exploit

Fast facts

• Solana was trading at US$39.07, up 0.84% in the prior 24 hours. The ninth-largest crypto by market cap said the exploit on its network, estimated to have drained almost US$6 million, is believed to be related to the Slope mobile wallet app.
• Slope put out a statement: “A cohort of Slope wallets were compromised in the breach. We have some hypotheses as to the nature of the breach, but nothing is yet firm. We feel the community’s pain, and we were not immune. Many of our own staff and founders’ wallets were drained.”
• Binance’s native token BNB gained 4.84% to US$302, continuing its climb from yesterday, amid reports that the crypto exchange will offer staking services for more tokens and that it has named a new head for its venture capital arm.
• Asia equity markets seem to shake off some of the jitters related to China’s anger over the visit to Taiwan by the U.S. House of Representatives speaker Nancy Pelosi on Tuesday. Pelosi left Taiwan on Wednesday afternoon.
• The Shanghai Composite index gained 0.8%, with the Hong Kong Hang Seng index rising 2.06% and Japan’s Nikkei 225 index adding 0.69%.

See related article: Bitcoin, Ethereum little changed; Solana still lower after network hack